The Nairobi Securities Exchange (NSE) equities market recorded its highest single day total equity turnover on Thursday, clocking KSh 8.8 billion from KSh 669.4 million recorded the previous day.
The surge was due to the sale of I&M Group Plc shares through the Block Board which took listed lender’s trading volume to 167.7 million.Consequently, the total number of shares traded at the bourse stood at 197.86 million shares. A block trade is a large securities transaction privately negotiated and arranged away from public markets to minimize its impact on the security price.In November 2023, the British International Investment Plc announced the sale of its shares in I&M Group to East African Growth Holding subject to regulatory approvals in Kenya and other countries that the listed lender is present.
“As such, shareholders of the Company and the public at large are strongly advised to exercise caution when dealing with the shares of I&M Group Plc during this period of transition,” read the statement issued in November 2023.
The bonds turnover went up 121.7% to KSh 5.1 billion from KSh 2.3 billion recorded in the previous trading day. The market was however bearish, evidenced by the 1.0% drop in the Nairobi All- Share Index (NASI) closing the trading day at 113.09 points.
